? Series B Funding
Shanghai-based esports company VSPN (Versus Programming Network) has raised approximately $100 million in Series B funding round, led by Tencent, with participation from Tiantu Capital, SIG (Susquehanna International Group), and Kuaishou
According to Dino Ying, CEO of VSPN, the funding will be used on creating an esports research institute, an esports culture park, and further expanding globally
? Previous Rounds
In 2018, the company received an undisclosed amount of funding from Tencent
In 2016, VSPN raised an undisclosed amount in a Series A funding round, led by Focus Media Network, China Jianteng Sports Industry Fund, Guangdian Capital, and Averest Capital
? Product
Founded in 2016, VSPN specialing in esports content production and distribution, commercialization, and organization offline esports venues
Currently, VSPN is the principal tournament organizer and broadcaster for PUBG MOBILE international competitions, and China’s top competitions for Honor of Kings, PUBG, Peacekeeper Elite, CrossFire, FIFA, QQ Speed, and Clash Royale
Among other activities, VSPN is planning to focus on creating an esports short-form video ecosystem, stating that it’s an important part of their future strategy
SOURCES: TECHCRUNCH, SPORTSBUSINESSDAILY